Connect with us

Crypto World

Bitcoin isn’t losing to gold. It is navigating a liquidity squeeze that the yellow metal never had: Asia Morning Briefing

Published

on

Bitcoin isn’t losing to gold. It is navigating a liquidity squeeze that the yellow metal never had: Asia Morning Briefing

Good Morning, Asia. Here’s what’s making news in the markets:

Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas.

The market has been asking whether bitcoin is losing to gold. Darius Sit, co-founder and Managing Partner at QCP Capital, says the debate is often framed around price when liquidity realities matter more.

Singapore-based QCP is one of Asia’s largest trading desks, with over $60 billion in annual volume.

“If you’re comparing Bitcoin to gold, it’s not a like-for-like comparison… you’re talking about almost like a mouse versus an elephant kind of comparison,” Sit told CoinDesk. “You have two different sets of idiosyncratic market forces affecting market price in the short term, but on the longer-term narrative, I think, [they] remain quite similar.”

Advertisement

Gold’s dominance reflects sovereign demand, entrenched market structure, and sheer scale. Bitcoin’s lag owes more to position unwinds than thesis collapse. Gold’s market cap is so large that its daily swings can exceed bitcoin’s entire valuation, turning short-term divergence into a physics problem rather than a narrative verdict.

However, “in the longer term, narrative looks the same,” Sit said.

A bigger inflection point, in his view, isn’t bullion’s rally but crypto’s Oct. 10 (now called 10/10) deleveraging event. That episode drew a hard line between bitcoin and the rest of the digital asset complex, exposing how liquidity and credit mitigation diverge once leverage snaps.

“October 10 revealed that … there is a very clear line in terms of the liquidity between crypto, altcoins and bitcoin,” Sit said. The takeaway isn’t that crypto lost its appeal, but that much of the market discovered its true depth only after forced unwinds cleared the book. What remained was a thinner landscape where price moves sharply in either direction.

Advertisement

One of the most important lessons of “10/10” was how crypto venues handle credit when things break.

Sit drew a stark contrast with traditional markets, where layered broker and clearinghouse structures absorb shocks before losses reach end users.

Native crypto exchanges, by comparison, often operate as single points of failure, relying on shareholder equity, insurance funds, and, in extreme cases, socialized loss.

“The moment you trigger socialized loss, your platform will lose trust,” Sit said, describing what he views as the industry’s real institutional ceiling. Volatility isn’t the deterrent. The problem emerges when traders cannot predict how liquidations and counterparty risk will be managed in a stress event.

Advertisement

Socialized loss occurs when an exchange’s insurance fund cannot cover bankrupt positions, forcing the platform to close out profitable traders’ positions to cover the shortfall, effectively making winners pay for others’ losses. This happened on many major exchanges during the Oct. 10 market crash.

He added that participants perceived the rules as inconsistent, with some products or counterparties appearing insulated while others absorbed the hit.

That perception lingers longer than the price drawdown itself. Markets can rebuild leverage and volume, but trust in liquidation governance is slower to return.

The result is a divided landscape where bitcoin retains credibility due to deeper liquidity and clearer use as collateral, while the broader altcoin complex trades with a structural discount tied less to macro direction than to venue design and counterparty confidence.

Advertisement

In Sit’s view, bitcoin still behaves like a long-horizon inflation hedge and an increasingly legible form of collateral, whereas the broader altcoin universe is more directly subject to venue governance and order-book depth than to macro narratives alone.

“When something has poor liquidity, it can go down a lot. It can go up a lot,” Sit said.

Market Movement

BTC: Bitcoin swung violently but edged up about 5% in the last hour as extreme volatility followed a liquidation-driven plunge toward $60,000, with the RSI near 17 signaling historically oversold conditions that often precede sharp relief bounces even as price hovers near the $58,000 to $60,000 support zone.

ETH: Ether traded around $1,895, rebounding about 7% in the past hour after a liquidation-driven selloff, with volatility surging as deeply oversold momentum conditions triggered a short-term relief bounce despite double-digit losses over the past 24 hours.

Advertisement

Gold: Gold slipped about 3.7% to roughly $4,740 per ounce in a broad risk-asset pullback and profit-taking wave, but analysts argue the longer-term uptrend remains supported by persistent central-bank buying, debt and currency-confidence concerns, and forecasts that still see potential for prices to push toward $7,000 later in 2026 despite short-term volatility.

Nikkei 225: The Nikkei 225 slipped about 1% to extend a three-day losing streak as a Wall Street tech rout spilled into Asia, dragging South Korea’s Kospi down as much as 5%, pressuring Hong Kong and Australian equities, and reinforcing a broader risk-off tone that also weighed on silver and other volatile assets.

Elsewhere in Crypto

  • U.S. Treasury’s Bessent calls out crypto ‘nihilists’ resisting market structure bill (CoinDesk)
  • Tom Lee’s Bitmine now $8 billion underwater as ether tumbles below $2,000 (CoinDesk)

Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Crypto World

What’s Been Behind the Bitcoin Crash as BTC Falls to $60K

Published

on

What’s Been Behind The Bitcoin Crash As Btc Falls To $60k

Key Insights

  • Bitcoin whales sold over 81,000 BTC in eight days, adding strong supply pressure to the market.
  • Large wallets now hold their lowest share of Bitcoin supply recorded in the past nine months.
  • Retail wallets increased accumulation, reaching their highest Bitcoin supply share in 20 months.

Bitcoin continued its downward move as the broader cryptocurrency market faced renewed selling pressure. Total market capitalization declined by about 7.9% to $2.23 trillion, reflecting reduced risk appetite across digital assets. Bitcoin traded near $65,100 after briefly falling to $60,074, its lowest price level since October 2024.

Ethereum followed the same trend, falling close to 9% to around $1,913. The leading altcoins such as BNB, XRP, Solana, and Dogecoin also recorded losses of between 9 per cent to 14 per cent. The market evidence indicates internal supply forces but not one macroeconomic precipitator triggered the decline.

Large Holders Reduce Bitcoin Exposure

On-chain data from Santiment shows sustained selling by large Bitcoin holders. Wallets holding between 10 and 10,000 BTC reduced their holdings over recent weeks. These wallets now control about 68.04% of total Bitcoin supply, marking a nine-month low.

What’s Been Behind The Bitcoin Crash As Btc Falls To $60k
What’s Been Behind The Bitcoin Crash As Btc Falls To $60k – Source:X

Over the last eight days, big holders sold about 81,000 BTC. This selling increased available supply during weaker demand sessions. As supply pressure grew, Bitcoin prices moved lower, testing levels not experienced in several months.

Large holders often adjust exposure during periods of uncertainty. Their actions tend to influence short-term price movements due to the volume involved.

Small Investors Increase Accumulation Despite Price Decline

Large wallets decreased holdings, but smaller investors kept on accumulating Bitcoin. The proportion of wallets that contained less than 0.01 BTC expanded their total supply to approximately 0.249.This value represents the highest level recorded in roughly 20 months.

Advertisement

The retail wallets dominate such a small part of the total supply, but their constant accumulation indicates that they are still involved at lower levels of prices. This trend shows that smaller investors were able to absorb some of the selling pressure that was generated by larger holders.

Supply Shifts Drive Market Volatility

The contrasting behavior between large and small holders continues to shape Bitcoin’s market structure. Similar patterns have appeared during extended corrective phases in past market cycles. Big sellers allocate supply and retail players slowly escalate exposure.

Until selling activity from large wallets declines and demand improves, Bitcoin may remain volatile.  The trend in prices is expected to portray a continuing shift in supply allocation and not news flash.

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

Advertisement

Source link

Continue Reading

Crypto World

New Standard for Crypto Community

Published

on

New Standard for Crypto Community

Bitget, the world’s largest Universal Exchange (UEX),  today announced the launch of the Bitget Fan Club, a new community initiative designed to bring users closer into the platform’s growth journey through structured participation, product collaboration, and content-driven engagement.

The Bitget Fan Club invites users from around the world to become officially recognized contributors to the Bitget ecosystem. Members, who will be known as Bitget Fans, will play an active role in shaping product experiences, sharing feedback, amplifying community initiatives, and supporting ecosystem development across markets.

Unlike traditional loyalty or referral programs, the Bitget Fan Club is built around a tiered participation model that rewards meaningful contributions over time. Members progress through levels by engaging with Bitget’s products, contributing ideas and content, participating in community discussions, and supporting broader ecosystem initiatives. As members advance, they unlock increased recognition, exclusive access, and opportunities to collaborate more closely with Bitget teams.

“The Bitget Fan Club reflects how we value community. Not as passive users, but as co-builders in our UEX vision,” said Gracy Chen, CEO of Bitget.

Advertisement

“As our platform expands across assets and regions, it’s important that we create pathways for our most engaged users to contribute, be recognized, and grow alongside us.”

Members of the Bitget Fan Club gain access to a range of evolving benefits, including official identity badges, token airdrops, product feedback channels, content and community support, early access opportunities, and invitations to online and offline Bitget events. Higher-tier members may also participate in community decision-making initiatives, product direction discussions, and official content collaborations.

The initiative is designed around transparency and fairness, with clearly defined progression criteria and regular reviews to ensure active participation and accountability. Full details on membership tiers, progression paths, and perks are available on the official Bitget Fan Club page.

By launching the Bitget Fan Club, Bitget continues to strengthen its community-first approach, building an ecosystem where users are empowered to influence products, culture, and the long-term evolution of the platform.

To find out more and apply to join the Bitget Fan Club, visit here. Users can also join the Telegram group here.

Advertisement

About Bitget

Bitget is the world’s largest Universal Exchange (UEX), serving over 125 million users and offering access to over 2M crypto tokens, 100+ tokenized stocks, ETFs, commodities, FX, and precious metals such as gold. The ecosystem is committed to helping users trade smarter with its AI agent, which co-pilots trade execution. Bitget is driving crypto adoption through strategic partnerships with LALIGA and MotoGP™. Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. Bitget currently leads in the tokenized TradFi market, providing the industry’s lowest fees and highest liquidity across 150 regions worldwide.

For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord

Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

Source link

Advertisement
Continue Reading

Crypto World

BeInCrypto Wins ‘Best Crypto Publisher’ at Crypto Awards 2025

Published

on

BeInCrypto Wins ‘Best Crypto Publisher’ at Crypto Awards 2025

BeInCrypto has been named Best Crypto Publisher at The Crypto Awards 2025, Russia’s leading awards for cryptocurrency and blockchain technologies. The event recognized top projects across 24 categories with a festive ceremony, celebrating those making an impact on the Russian crypto market.

A special shoutout goes to Evgeniya Likhodey, Managing Editor at BeInCrypto Russia, whose leadership helped the editorial team deliver in-depth analyses and news coverage that resonate with professionals and everyday readers alike.

Sponsored

Sponsored

Advertisement

Evgeniya shared her perspective on the award:

“I think this award has become a symbol of our commitment to covering crypto in Russia honestly and without embellishment. We’re not afraid to talk about challenges, because real progress only comes from addressing them directly. At the same time, we make a point of highlighting positive developments that move the industry forward. This recognition belongs to the entire editorial team, whose daily work and dedication make this possible, and to our readers, whose trust we truly value.”

Since 2018, BeInCrypto has grown into a world-leading crypto news platform, reaching over 7 million monthly readers in their own language. As a proud member of the Trust Project, BeInCrypto remains committed to reliable, trustworthy journalism, supporting readers with accurate and timely crypto news.

This award highlights our ongoing commitment to accurate, timely, and credible coverage, helping readers stay informed in a fast-moving crypto landscape.

See the full list of winners here: https://cryptoawards.ru/

Source link

Advertisement
Continue Reading

Crypto World

Michael Saylor’s Strategy sheds $6 billion in a day — again

Published

on

Michael Saylor's Strategy sheds $6 billion in a day -- again

On March 20, 2000, Strategy (formerly MicroStrategy) co-founder and then-CEO Michael Saylor lost $6 billion in one day — ​​more money than any public company executive had ever previously lost in a single day.

He — and Strategy shareholders — lost even more yesterday.

Strategy opened for trading yesterday at a 52-week low after missing out on a $33 billion profit. Somehow, things got even worse by dinnertime.

By 5pm, Saylor’s company admitted to losing $42.93 per share of MSTR in diluted earnings within the final three months of 2025. The stock also declined another 20% to below $102 — incinerating another $7 billion in market capitalization within 24 hours.

Advertisement
Strategy stock chart from Thursday, February 5, 2025. Source: TradingView

With a share price of just $102, the company posted a $15.23 per share loss for the 2025 calendar year. 

$6 billion in more missed profit

The bad news continued. The foregone $33 billion profit that it had missed out on by Wednesday night had turned into a $39 billion missed profit just 24 hours later.

Strategy’s ex-general counsel Shao Wei-Ming sold another 3,000 shares of MSTR. The company posted an operating loss of $17.4 billion for Q4 2025 — 16.4x higher than Q4 of the prior year. 

Its net loss per common share on a diluted basis was $42.93, as mentioned above, which calculates to a year-over-year increase of 1,316% in the wrong direction.

Dilution of MSTR continues

Its capital-raising abilities showed continued reliance on common stock dilution — despite months of attempts by management to switch the mix toward preferred shares.

Advertisement

From October 1, 2025 through February 1, 2026, the company’s at-the-market share sales relied on MSTR dilution for 79%: $7.8 billion compared to just $1.6 billion from preferreds.

Worse, revenues from product licenses from the company’s actual operating business, enterprise software sales, plummeted 48% from $15.2 million in Q4 2024 to less than $7.8 million in Q4 2025.

Revenue lines labeled Product Support and Other Services also declined, with only Subscription Services posting a year-over-year increase. General and Administrative costs also ticked higher.

Read more: Michael Saylor doesn’t believe BTC is digital money

Advertisement

Dividend payments to preferred shareholders — which did not exist in 2024 — dragged another $381.3 million out of the company in 2025.

The company’s flagship series of preferred, Stretch, which is the top focus of the company’s “laser-eyed” devotion, closed trading yesterday 6.3% below its intended $100 price, despite paying an 11.25% dividend and running X ads to motivate demand.

The company’s bitcoin (BTC) yield, a measure of management’s ability to accrete BTC per share by operating a good business and avoiding MSTR dilution, has slowed to a crawl in 2026.

As of February 1, BTC yield for common shareholders is just 0.3% year-to-date, which compares with formerly impressive figures of 7.3% in 2022, 74.3% in 2023, and 22.8% in 2024.

Advertisement

Got a tip? Send us an email securely via Protos Leaks. For more informed news, follow us on X, Bluesky, and Google News, or subscribe to our YouTube channel.

Source link

Advertisement
Continue Reading

Crypto World

Ripple lays out institutional DeFi blueprint for XRPL with XRP at center

Published

on

XRP-linked firms secures full e-money License for EU

Ripple and XRPL contributors have outlined a growing set of “institutional DeFi” building blocks on the XRP Ledger that aim to make the network viable for regulated financial activity, per a Thursday blog.

XRP’s utility as a settlement and bridge asset is being highlighted as central to that infrastructure, with usecases ranging from from forex and stablecoin rails to tokenized collateral and native lending markets.

The latest roadmap emphasizes features already live — such as multi-purpose token standards (MPT), permissioned domains with compliance tooling, credential-backed access and batch transactions — alongside upcoming releases that extend XRPL into credit markets and privacy-preserving workflows.

Unlike many smart contract chains that bolt on compliance after the fact, XRPL’s approach has been to embed identity and control primitives at the protocol layer.

Advertisement

Permissioned domains and credentials allow markets to gate participation by verified entities, a requirement institutions often cite as a barrier to onchain integration.

On the payments and FX side, XRP’s role as an auto-bridge between assets continues to be cited as a demand driver, with stablecoin corridors and remittance flows adding to onchain volume and fee activity. Token escrows and object reserves denominated in XRP further tie network usage back to the native asset.

Looking ahead, the introduction of XLS-65/66 — the XRPL lending protocol — is slated to offer pooled and underwritten credit on ledger without entirely offloading risk logic onchain.

Single asset vaults, fixed-term lending and optional permissioning tools are designed to feel familiar to institutional risk managers while operating in an onchain settlement context.

Advertisement

Privacy features like confidential transfers for MPTs, arriving in the first quarter, aim to satisfy enterprise and regulatory expectations around transaction-level anonymity and controlled disclosure.

Critics have long pointed to XRPL’s lack of EVM-style programmability as a hindrance. The new EVM sidechain — bridged via the Axelar network — is meant to address this by letting Solidity developers tap into XRPL liquidity and identity features while accessing familiar tooling.

XRP prices are down 22% over the past seven days, in line with a broader market drop.

Source link

Advertisement
Continue Reading

Crypto World

NFT Market Cap Returns to Pre-Hype Levels Near $1.5B

Published

on

NFT Market Cap Returns to Pre-Hype Levels Near $1.5B

The global non-fungible token (NFT) sector fell below $1.5 billion in total market capitalization, returning to levels last seen before the sector’s rapid expansion in 2021. 

The retracement unfolded alongside a broader crypto market downturn over the past two weeks, CoinGecko data shows. On Jan. 23, total crypto market capitalization stood at about $3.1 trillion, before falling to $2.2 trillion on Friday.

Major assets like Bitcoin (BTC) slid from around $89,000 to about $65,000, while Ether (ETH) fell from $3,000 to near $1,800 throughout the same time frame. Bitcoin and Ethereum are the top two networks for NFTs in terms of 30-day trading volume, according NFT data aggregator CryptoSlam.

The NFT market cap drop follows several high-profile closures and exits, highlighting the sector’s continued contraction. 

Advertisement
Total NFT market cap chart. Source: CoinGecko

Rising supply collides with falling demand

The market reset has been compounded by a growing imbalance between NFT supply and buyer demand. 

As reported by Cointelegraph on Dec. 31, total NFT supply continued to expand even as sales and prices declined, pushing the sector into a high-volume, low-price structure. 

CryptoSlam data showed that the number of NFTs in circulation rose to nearly 1.3 billion in 2025, up by 25% compared to 2024. Total NFT sales fell 37% year-over-year to $5.6 billion, while average sale prices slipped below $100. 

The divergence suggests that while minting became cheaper and barriers to issuance fell, buyer participation and spending failed to keep up. 

Related: US prosecutors drop OpenSea NFT fraud case after appeals court reversal

Advertisement

Corporate exits and platform closures add pressure

The drop follows a series of high-profile retreats that mirror the market’s pullback. On Jan. 7, footwear giant Nike quietly offloaded RTFKT, the digital collectibles studio it acquired at the height of the NFT boom.

The reported sale followed the company’s decision to shut down operations amid an investor lawsuit.

In addition, marketplace shutdowns have accelerated. Nifty Gateway, one of the earliest NFT platforms, said it will close on Feb. 23 and has entered withdrawal-only mode. The Gemini-owned platform cited a prolonged market downturn as it winds down.

On Jan. 28, social NFT platform Rodeo announced it would cease operations after failing to scale sustainably. Rodeo said it would transition to read-only mode before shutting down entirely in March.

Advertisement